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A Brief Introduction to Personal Contract Purchase (PCP)
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Posted On :
Feb-07-2012
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Article Word Count :
392
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It may be surprising though, that after a recession many people actually stay with their PCP deals and carry on acquiring cars in this manner. The reason for this is because of how advantageous a PCP deal can actually be.
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When an adverse financial climate is in place or recession has taken hold it's not uncommon for the UK to look towards alternate methods of providing themselves with a vehicle. One of the most popular methods is to take part in a leasing deal such as Personal Contract Purchase (PCP).
It may be surprising though, that after a recession many people actually stay with their PCP deals and carry on acquiring cars in this manner. The reason for this is because of how advantageous a PCP deal can actually be, something that you're bound to agree with after this brief introduction to how it works.
In its most basic form PCP is the long term rental of a vehicle via monthly payments, where the company you're dealing with retains ownership of the car. The price of the monthly payments is decided before a contract is signed during negotiations.
At these negotiations the company will ask a few questions and do a little research so as to determine what price will be paid each month. Some of the factors that influence price are; contract length, initial deposit, estimate mileage and the guaranteed future value (GFV) of the vehicle at the end of the contract.
Once a term is over the benefits keep coming, it's possibly to instantly enter another contract with a brand new car, or - if so desired - you can even transfer ownership of the current vehicle to yourself by making a final payment (one which is decided upon during the contract negotiations).
PCP can be an immensely beneficial option and is worthwhile checking out if you think that it could suit your needs. Good luck in your search.
It may be surprising though, that after a recession many people actually stay with their PCP deals and carry on acquiring cars in this manner. The reason for this is because of how advantageous a PCP deal can actually be, something that you're bound to agree with after this brief introduction to how it works.
When an adverse financial climate is in place or recession has taken hold it's not uncommon for the UK to look towards alternate methods of providing themselves with a vehicle. One of the most popular methods is to take part in a leasing deal such as Personal Contract Purchase (PCP).
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Article Source :
http://www.articleseen.com/Article_A Brief Introduction to Personal Contract Purchase (PCP)_145105.aspx
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Author Resource :
Information provided by Oneswoop.com - the free car price comparison website that brings you the very best PCP deals and new car prices. Take a look around the site, see what you can learn and find the best PCH, BCH, LP, HP and PCP deals.
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Keywords :
PCP, Personal Contract Purchase, New cars, Compare car prices,
Category :
Travel and Leisure
:
Cars
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